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MSMEs get P2.8-M to restart operations

March 14, 2021 Uncategorized

ROXAS CITY, Capiz, July 30 (PIA) — The Department of Trade and Industry through the Small Business Corporation (SBC) has already approved as of July 28 the loan application of at least 48 Micro, Small and Medium Enterprises (MSMEs) in Capiz.

“Approved loan applications of MSMEs in Capiz worth P2,830,000.00 are part of the estimated 23,000 loan applications submitted for approval
nationwide,” said SBC Pondo Para sa Pagbabago (P3) coordinator Mark Paul Serran, adding that the micro – financing initiative is still part of the government’s P3 program and the intensified efforts to help businesses, MSMEs that were affected by the COVID-19 pandemic bounceback to business.

SBC CARES

During his State of the Nation Address (SONA) last Monday, President Rodrigo R. Duterte reported that the government has pump-primed the
recovery and rehabilitation of MSMEs as he expressed optimism that the initiative will help them stabilize and recover from their losses.

“The DTI, through the Small Business Corporation, set up the PhP1-billion COVID-19 Assistance to Restart Enterprises or CARES Program to provide zero-interest loans for MSMEs affected by the pandemic,” the President said.

He also requested commercial establishments to give grace periods or allow deferment of payments, especially for MSMEs that were forced to
close down during the quarantine period.

The Bangko Sentral ng Pilipinas and banks operating in the country are also enjoined by Pres. Duterte to provide regulatory relief for the MSMEs and allow loan payment extensions, without incurring penalties and charges.

The DTI is also encouraging Filipinos to patronize locally – produced products to help local companies employing local workforce.

“We should acknowledge that all forms of government support will go to naught if the new MSMEs do not thrive because of lack of consumer support,” the President stressed. (JBG/AAL/PIA Capiz)

 

source https://pia.gov.ph/news/articles/1048913

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